It's fair to say that it's much more complicated than that. A good HDR can use anywhere between three to...whatever number of images. General rule of thumb is to meter the the darkest area and the lightest area, and then shoot properly exposed images of both the bottom and top of the range, and shots in one stop increments in between. (Sorry if I'm confusing; I'm on the phone too.)

So essentially its many variations of the same shot...all composited using software? So essentially I was correct, just that it is more than just bracketed shots. So I can adjust the stops and the exposure etc. and just take varying shots and then composite them? Is HDR usually built into most software programs like Corel and Photoshop, or is there a specific program you would recommend? Thanks.

It's not really variations of the same image. What you're doing is trying to capture a range greater than what your camera's sensor is capable of capturing. The HDR post-process isn't strictly compositing; it's more complex than that because it involves tone-mapping.

There are a myriad of other considerations that effect the taking of and HDR image. This includes the fact that HDR processing brings out every aberration in the image, including CA and noise, and adds problems too like ghosting. (Hint: If you don't know what one of those is, you need to learn what it is and the best methods of correcting them before you continue on and create an HDR image.) Your technique needs to be spot-on; there's no room for having any vibrations in the camera (small vibrations between shots, while they might not effect a single image, can soften the resultant HDR significantly), for example.